NMG Updates on Progress Toward Phase-2 Ore-to-Anode FID

Nouveau Monde Graphite Inc. (NMG) has provided an update on its efforts to reach the Final Investment Decision (FID) for its Phase-2 Matawinie Mine and Bécancour Battery Material Plant. NMG is advancing its feasibility study, working closely with key customers Panasonic Energy and General Motors, pursuing project financing, and preparing for construction.

Key Highlights:

  • Integrated Feasibility Study: NMG is updating cost projections, optimizing engineering, and refining production parameters. The updated study is expected in Q1 2025.
  • Anchor Customer Collaboration: Ongoing engagement with Panasonic Energy and GM focuses on aligning technical, financial, and contractual deliverables ahead of construction.
  • Project Financing: NMG has received $1.4 billion in expressions of interest for financing, including contributions from Anchor Customers and investors. Expected funding includes $275 million from Panasonic and GM and up to $350 million in Canadian tax credits.
  • Electrification Initiatives: ABB will construct a 120kV substation for the Matawinie Mine, enabling renewable energy use. Hydro-Québec is progressing on the powerline construction.
  • Zero-Emission Equipment Development: Collaboration with Caterpillar to develop battery-electric mining solutions continues.

Market Outlook:
The global graphite market remains competitive, driven by EV and lithium-ion battery growth. EV sales reached 11.5 million year-to-date, with GM reporting strong growth. Trade policies, including Canadian tariffs on Chinese EVs, support domestic battery material supply chains, aligning with NMG’s strategy to decouple from China.

Corporate Updates:

  • Stéphane Leblanc joins the Board of Directors, bringing 30 years of mining experience.
  • Karine Doucet has been appointed VP of Human Resources to enhance talent management.
  • Community engagement with First Nations is progressing toward an Impact and Benefit Agreement for the Matawinie Mine.

NMG’s cash position stands at $56.5 million, with strong safety and environmental performance over the past year. The Company remains committed to building a sustainable and competitive graphite operation.

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